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Old 04-20-2015, 02:54 PM   #1
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Holy NJ new Mustang insurance...

For giggles, I called up my insurance company and USAA (my old one). Hilarity is as follows:

07-09 GT500, esurance won't even insure it, USAA wants +225/mo... wow

2012 Mustang GT, esurance says +$100/mo which is ok I guess, USAA wants +$200. Lolz

2015 Mustang GT brand new, esurance still at +$100/mo, USAA at +$215 for that one.

I have never had a Mustang newer than a SN95 as evidence by my lack of S197 knowledge. I know NJ is "lube up" territory when it comes to car insurance but this seems excessive for someone with 0 points, over 25 and married with a bachelor's degree(no idea why but education makes a difference).

Or am I just out of touch?
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Old 04-20-2015, 03:05 PM   #2
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I pay $226 a month for my 2013 GT in Florida. I have one wreck ever since 17 (now 40!) but it was 2 years ago. Prior to that wreck my insurance was spotless and it was $176 for a 2011 GT.

They definitely like to get their money for a problem up front lol.
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Old 04-20-2015, 03:55 PM   #3
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Yeah I dunno. More I look at it, more I may just try to get into another SN95... or a F body...
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Old 04-21-2015, 12:06 AM   #4
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My Insurance through Geico is $304 for six months. That is full coverage 100/300, Comp, 100/300 Unisured driver and $100 deductible. Same coverage for my 1993 Grand Prix, same coverage, my local driver.

Of course I am older than sin with no tickets or accidents.
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Old 04-21-2015, 07:01 AM   #5
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I posted to your thread on SVTP................make the call, you have nothing to loose.
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Old 04-21-2015, 07:37 AM   #6
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I live in Florida and currently pay about $800 a year for my 5.0. Full coverage 100/300, Comp, 100/300 Uninsured driver.
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Old 04-21-2015, 07:37 AM   #7
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Yeah I saw that, figured I'd post in the actual GT500 forum to see if I've got some bonkers quotes since those guys will actually know. Obviously you will too but there are going to be way more ppl over there with GT500s...


I just really don't feel like being on the phone all day with dip****s.


I honestly think its just ridiculous NJ rates... if I could not get insurance cheaper than what is being quoted now, I for sure would not look for a 07-09 GT500 no matter how much I wanted one. A 5.0 would be more doable at $100/mo extra but that's still kind of a lot.


I'm starting to think more and more that maybe I get a S197 V6 for cheap/cheap insurance and Coyote swap it with a 07-09 GT500 front end. Best of all worlds. Favorite looking Mustang, better engine, cheap insurance, no payment, just a lot of work.
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Old 04-21-2015, 11:34 AM   #8
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I was on literally on my way to pick up an 07 gt, black on black vert, with 31k miles,($15k) got loan approved/check cut, then decided to call ins for a quote...thank God I did that, carnote would have been $278per month, ins was $237 a month. Wtf, that's a whole extra car payment! Insurance is one hellofa moneymaker

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Old 04-21-2015, 11:44 AM   #9
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The insurance rate depends on how much you drive. If you can make that number really really small, the rate comes down dramatically. But I can walk to work, and I'm as old as sin too.
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Old 04-21-2015, 11:45 AM   #10
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$1000 Deduct

Ya all may want to consider a $1,000 deduct; A $100 or $250 deductible is way too cheap.
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Old 04-21-2015, 11:46 AM   #11
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Your credit rating also has a lot to do with your insurance rates too.
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Old 04-21-2015, 11:48 AM   #12
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I have very good credit.
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Old 04-21-2015, 12:38 PM   #13
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New Jersey Insurance

If you want a gt 500 and have garage space for it, it might be significantly cheaper to insure it as a collectible. You'll be limited to driving 3000 miles a year, and you'll be required to have another car that you can drive every day. I live in North Jersey and have a 1995 mustang gt which is insured as a collectible, and I pay less than $300 a year to insure it. It's garaged, and I basically take it to car shows.
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Old 04-21-2015, 01:46 PM   #14
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Quote:
Originally Posted by Windveil05 View Post
If you want a gt 500 and have garage space for it, it might be significantly cheaper to insure it as a collectible. You'll be limited to driving 3000 miles a year, and you'll be required to have another car that you can drive every day. I live in North Jersey and have a 1995 mustang gt which is insured as a collectible, and I pay less than $300 a year to insure it. It's garaged, and I basically take it to car shows.
That was my other thought, my father has that on a 96 LT4 Corvette. No inspection except a yearly odometer check. You also need to have your license for 10 years and have a vehicle newer than 10 years old as well. I plan on driving the 03 Expy and 01 CRV into the ground and they both only have 110k on them so I'd have to find some cheap beater late 00s car just to qualify lol.
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Old 04-21-2015, 02:23 PM   #15
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There should be a law against those numbers lol. I think I'm paying 60 something with usaa. I have a multicar discount and a home policy also. I also still have a hail claim and a speeding ticket on mine.
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Old 04-21-2015, 03:17 PM   #16
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You can get an estimate on line from Geico, without talking to anyone. (At least you could when I switched a year ago.)
Here's mine with $500 deductible.(A good driving record and over 65 makes a big difference.)
Click image for larger version

Name:	Geico Car Ins - Mass.jpg
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Old 04-21-2015, 03:38 PM   #17
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If you look in a fan mag like Hemmings Muscle Machines, and contact companies that only write collector car insurance like Heacock or Hagerty, you might be able to get a much more affordable policy.
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Old 04-21-2015, 03:54 PM   #18
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Quote:
Originally Posted by Diehard View Post
You can get an estimate on line from Geico, without talking to anyone. (At least you could when I switched a year ago.)
Here's mine with $500 deductible.(A good driving record and over 65 makes a big difference.)
Attachment 180654
V6 makes a huge difference as well. My quote was so high because of the mere fact it was a V8 gt and convertible... I Drive less than 3,000 miles a year, have outstanding credit and my policy is combined with my homeowners. California's ins rates are prolly the worst in the country next to NYC and apparently NJ lol. I figure I'll wait till 2021 and then get it 2011gt, then it'll be a 10 year old and car not worth as much

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Old 04-21-2015, 05:14 PM   #19
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Wife goes to me yesterday as I complain about it... "Why not just get one that looks like it but isn't as much money?". She thinks I should not get a sn95 project or a $20k car and just get a v6... Of course. I mean I could and then do all the body suspension and drop a coyote in. Gt500 lookalike with 5.0 driveline would be sweet.

Rap is right, I change my mind every 5 seconds...

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Old 04-21-2015, 06:03 PM   #20
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Quote:
Originally Posted by fomoco4life View Post
V6 makes a huge difference as well. My quote was so high because of the mere fact it was a V8 gt and convertible... I Drive less than 3,000 miles a year, have outstanding credit and my policy is combined with my homeowners. California's ins rates are prolly the worst in the country next to NYC and apparently NJ lol. I figure I'll wait till 2021 and then get it 2011gt, then it'll be a 10 year old and car not worth as much

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I did look to see the difference for a GT and found that in my case there was a relatively small difference. Like under $50.
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Old 04-21-2015, 06:23 PM   #21
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143 a month for both my wife's 14 Jetta my 14 GT and a 96 ranger I have. 500 deductible through usaa and that's for western VA

My insurance only went up 15 bucks a month when I got my GT

I'm 32, married and don't have any points on my record.

Of course all this stuff is so subjective. I would be pissed off if I was getting charged those NJ rates. But that's because the more concentrated population areas with higher reported accidents always drive up the cost.
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Old 04-24-2015, 09:26 PM   #22
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In Florida, my '14 GT is costing me $697 a year. I have multi car discount and my home is on the policy. I also have a 17 year old male driver in the house on the same policy.

Prior to owning the Mustang, my 2006 Silverado and 2003 Monte Carlo SS, both with full coverage and $250 deductibles, cost me about $1000/year. Reducing the policy on the Monte Carlo to liability only so I could add the Mustang and my son to the policy, increased the policy $600/year for my son and $697 for the Mustang. Now my wife wants a '15 Challenger Scat Pack. Insurance for that is about $720/year and that car has a 6.4L 392 engine!

If you do look at collector insurance, I always recommend Grundy. They have no mileage limitations and they are cheaper than Hagerty and the others. My '87 IROC-Z is insured for $22k, unlimited annual miles, and I pay $168/year. I'm thinking about increasing the value on that policy!
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Old 04-24-2015, 10:13 PM   #23
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I have geico Scotty. It's 90 a month. They are phenomenal to deal with. Get a free quote.
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Old 04-25-2015, 08:53 AM   #24
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Less than $700 with State Farm, low deductibles too. But we have the house with State Farm too.
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Old 05-16-2015, 09:09 PM   #25
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I'm paying $298/month for my '14 5.0 in Vancouver (BC), no accidents nothing. Have 3 years driving experience on my license My 2014 3.7 was just 15-20 cheaper..

BC has worst insurance rates in Canada! Sucks you have to go through ICBC (semi govt corporation for automobile licensure and insurance) for your base plan. And there are only 2-3 private insurance companies besides icbc to get your comprehensive and collision coverages from. Guys don't move to BC if you want to live in Canada lol
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Old 05-16-2015, 09:18 PM   #26
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Well Esurance just raised my rates $50/mo for the new 2000 GT with full coverage. It would have been $30 for just liability. I am going to call a few other places to see if I can get a better deal than $155/mo for 3 cars with full coverage but I'm not sure I am going to...
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Old 05-17-2015, 11:14 AM   #27
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^ try state farm. Their rates are pretty good/competitive from what I've read
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Old 05-17-2015, 11:19 AM   #28
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I have nationwide. I pay $140 a month for my mustang and wife's explorer together. Both full coverage, 26 wife is 24. And 1 ticket.

Now my 2011 f250 is under state farm. But I have to carry million dollar liability on it. So it's a little more

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